Denver, CO Real Estate News

By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
The US News & World Reports just published their 2020-2021 article - Best Places to Live in the US and 4 Colorado cities were in the top FIVE! #1 - Boulder, CO#2 - Denver, CO#4 - Colorado Springs, CO#5 - Fort Collins, CO Colorado is known for its great weather (for the most part) and so many days where you can spend time outdoors with all types of activities in the City or into the mountains.   This makes it tough not to like!  Even when we get snow, it doesn't usually last long and melts. #3 - Austin, TX#6 - Charlotte, NC I just had a client that could work remotely and this couple had a strong desire for YEARS to move to Denver and did so this past month.   They LOVE it!  With mountain views out every window on the backside of the house, and from their HUGE covered porch, they LOVE it...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 Not sure what all the noise is about mail-in ballots, we have used them for years without issues (that I know of).    We can mail them (up to one week prior to the election), drop them off in the ballot receptacles all over Colorado, or go to the poll and physically vote. This year the State of Colorado has a nifty tool to MAKE SURE your vote was counted.   They have said if your signature has changed too much, it won't be counted, and they would reach back out to you to have you come in.   BUT, if you sign up for the Ballot Trax, you will be notified when your ballot was counted. Anywhere in the State of Colorado you live, you can check for your status - https://colorado.ballottrax.net/voter/dashboard I looked back on my history, and shows back to 2014 when the ballot was mailed to me...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 When a potential Buyer contacts you (especially a website hit) there is a time where you need to get to know each other.   Time for trust to build.    In this market, buyers either need to produce a lender letter showing proof they are capable of buying, or proof of funds if they plan to purchase with cash. What happens when they need to sell their home and have the cash to add for a purchase?     When you want to see $1 million+ homes, often times the listing agent wants to see either proof of funds or the lender letter before you can set a showing. It is tough when you do not have a REALTOR, and need to build a relationship with one, but who do you trust?    Do you give your personal information to just anyone?    With so much fraud around us, this is a tough position to be in. BUT, ...
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By Brian Petrelli, MBA, GRI
(The Brian Petrelli Team - Metro Brokers)
LoHi Denver has become one of the bggest hotspots in the metor area. The stats outlined below help flush out both the activity and prices in the area. The low number of available Denver Homes still poses challenges from as demand from Buyers remains high. One of our team's clients is considering making on offer on a home in the neighborhood, and we prepared this report for them. We felt it may also help some of you.Some of the Area's Highlights: There are 39 active LoHi Homes on the market. There are 1930 active Denver Homes on the market. Currently under contract LoHi Homes on the market: 24. Currently under contract Denver Homes on the market: 2120. There are 3 Denver foreclosures on the market. Average prices decreased $19,949.00 over the last year from $757,274 to $777,223. We will ...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 I obtained my CRS (Certified Residential Specialist) designation around 20 years ago, and have completely enjoyed working with Buyers coming into Denver, and also those Sellers that SADLY are transferring out of Denver.     Each year I am blessed to have a few! Over the years, I have done outdoorsy videos of attractions that the residents seem to enjoy, and have had Buyers contact me and want to live near those attractions.  A big one is Aurora Reservoir, where you have lots of water activities, a sand beach, a picnic area, but also 8 miles of trails to bike or run.    Denver is very outdoorsy, and lots to do with our many days of sunshine!     Having a need to nurture, I love working with Relocation buyers from out of state, out of the country, or even out of the City.    Usually, a r...
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By Brian Petrelli, MBA, GRI
(The Brian Petrelli Team - Metro Brokers)
Bonnie Brae continues to be one of the most well know areas in Denver, and as always, homes in the area are in high demand.  The low number of available Denver Homes still poses challenges from as demand from Buyers remains high. As we were researching the market for one of our buyers, we created this report and thought it may help some of you understand the area as well.Some of the Area's Highlights: Right now, there are 4 active Bonnie Brae Homes on the market. Right now, there are 1930 active Denver Homes on the market. Currently under contract Bonnie Brae Homes on the market: 9. Currently under contract Denver Homes on the market: 2120. There are 3 Denver foreclosures on the market. Average prices decreased $174,014.00 over the last year from $1,072,786 to $1,246,800. We will contin...
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By Brian Petrelli, MBA, GRI
(The Brian Petrelli Team - Metro Brokers)
Grant Ranch Denver is always a hot areas for buyers. While the average sold price has fallen a little this year, the eclectic area continues to be a popular community. The low number of available Denver Homes still poses challenges from as demand from Buyers remains high. One of our team's clients is considering making on offer on a home in the neighborhood, and we prepared this report for them. We felt it may also help some of you.Some of the Neighborhood's Data Points: Right now, there are 1 active Grant Ranch Homes on the market. Right now, there are 2037 active Denver Homes on the market. There are 4 under contract Grant Ranch Homes on the market. There are 2179 under contract Denver Homes on the market. There are 3 Denver foreclosures on the market. Average prices decreased $17,687...
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By Brian Petrelli, MBA, GRI
(The Brian Petrelli Team - Metro Brokers)
Several of you have reached out recently regarding Capitol Hill Denver Condos. This is a highly popular area with hundreds of units selling every year.As we continue to see record high demand for Denver Condos, we are searching the MLS daily for new homes and updating our clients on sold prices. This week, we created this analysis for one of our homebuyers and thought it worthwhile to post the information here as well.Market Statistics: Active Capitol Hill Condos on the market: 53. Active Denver Condos on the market: 881. There are 22 under contract Capitol Hill Condos on the market. There are 520 under contract Denver Condos on the market. There are 3 Denver foreclosures on the market. Average prices decreased $32,838.00 over the last year from $327,119 to $359,957. We will continue to...
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By Brian Petrelli, MBA, GRI
(The Brian Petrelli Team - Metro Brokers)
We've been working with a buyer interested in the City View Heights Denver neighborhood this month. Here is a neighborhood report we ran for them to help you see the dfrastic change in prices.The low number of available Denver Homes still poses challenges from as demand from Buyers remains high. We just created this report for one of our team's clients, and thought it was worth posting here.Some of the Neighborhood's Data Points: Right now, there are 2 active City View Heights Homes on the market. Right now, there are 2037 active Denver Homes on the market. There are Currently 3 under contract City View Heights Homes on the market. There are currently 2179 under contract Denver Homes on the market. There are 3 Denver foreclosures on the market. Average prices increased $24,246.00 over t...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 A Luxury Home can be identified differently in cities across the country, but in Denver, my Luxury blog posts will report on detached single-family homes listed in the Denver metro area over $1 million.   Some have mountain and/or city views, some properties back to a golf course, or have water views all to compliment one's lifestyle.  (however, we don't have much water)  Some are updated with products from around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.     Here is how the luxury market fared for the month of August 2020Total sales - 289 homes ranging from $1,000,000 to $9,000,000 (last month was 335 homes, August 2019 was 164)A...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 The Denver real estate market usually starts with a flurry either January or February, and this year again we were faced with razor-thin inventory.  Buyers were in multiple offer situations UNTIL COVID reared its ugly head in our State in March.  We were seeing new listings come on, then the Attorney General said we no longer were able to show homes.  In May sales were again in full force, and we saw more homes going pending (by far) than new listings coming on the market.  Usually by August parents are preparing their children to return to school, and sales slow down, but it barely did so this year.  The interest rate is unbeatable right now. For the month of August, the days in MLS decreased to only 23 days.  The sales increased 11.6% over last year's sales, and decreased a bit over ...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 Starting Monday 9/21/2020 passengers will be allowed to start riding the N Line.   This segment of the light rail was expected to be complete back in 2018, but RTD did complete this line way under budget.  This rail line will take passengers from Union Station in downtown Denver up to the North as far as 124th. 
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 Typically builders have a preferred lender, and if a Buyer uses this lender, you will have some of your closing costs paid.    The most recent contract with a builder was giving $7500 towards closing costs. Be sure to ask what their current interest rate is, and approximately what their fees will be.  Also, call another lender (maybe the REALTOR's suggestion) and get another estimate to know whether you want to go with the Builder's lender or not. I went over the LE (Loan Estimate) with my Buyers, and they sure add a bunch of what we (REALTORS) call junk fees.   Most of my lenders do not charge an origination fee or processing fees. Buying a brand new home from a Builder, you will be paying fees you normally would not pay if buying a resale home.   In the end, my Buyers did stay with t...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 Everyone around here is talking about this WACKY weather.   Someone on Next Door asked where the fire is, as they could smell strong smoke smell.   (We have lots of wildfires right now - who knows?)  We hit a 100 yesterday, breaking past record highs, and today could be the same.   Tuesday the forecasters are predicting 3-6" of snow.  REALLY?  Will it stick? Be sure to read the - WINTER STORM WARNING..... So, on my radar app, is shows where the fires are, and found none nearby, but this is what was on my weather app.   OH MY, most likely will never see this again!   Only in Denver.....   
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 Denver has been touted as one of two cities that have done the best in rebounding after COVID, and with razor-thin inventory, it has made for a very strong Seller's market once again.   I know after 5/8 when we were allowed to show again, it was "off to the races", and all summer was very busy! Our inventory in the eleven-counties within the Denver metro area has seen a 41% drop in inventory from this time last year.    Maybe due to nervous homeowners not wanting buyers coming through their homes, especially if anyone has compromised systems.    Our new average sales price in Denver has set an all-time record high of $606,330.   This has made it very difficult for our first-time buyers to get into a home.   With the low-interest rates (below 3%), buyers are finding they can buy more ho...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 The Denver real estate market usually starts with a flurry either January or February, and this year again we were faced with razor-thin inventory.  Buyers were in multiple offer situations UNTIL COVID reared its ugly head in our State in March.  We were seeing new listings come on, then the Attorney General said we no longer were able to show homes.  In May sales were again in full force, and we saw more homes going pending (by far) than new listings coming on the market.For the month of April, most of the Denver metro area was not allowing "in-person" showings, which led to many withdrawn listings, and hundreds less listings each week.  Beginning 5/8, all counties in the Denver metro area once again were able to show, and listings hit the market daily.    For the month of July, the d...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 I always sleep with my bedroom window open, and BOY, yesterday morning it was like camping when I woke!    It was 41 degrees, as a cold front came through Denver and was a pleasant day with temperatures in the mid-70's.   What a relief from all the 90's we have had in August!   We even saw a few sprinkles, and enjoyed sitting on the patio last night! The mountains have seen a few snowflakes, so that is a sign too.   It will be time soon to plan a "leaf peeping" trip into the mountains. Today is expected to be 80, and a bit of a roller coaster this week - some 80's and some high 90's.   I do believe the season is a changin.....  
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 A Luxury Home can be identified differently in cities across the country, but in Denver, my Luxury blog posts will report on detached single-family homes listed in the Denver metro area over $1 million.   Some have mountain  and/or city views, some back to a golf course or have water views all to compliment one's lifestyle.  (however, we don't have much water)  Some are updated with products from around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.    Since March when COVID hit the Denver area, we saw sales in every price range drop.   June 2020 saw a significant increase, but July we saw activity exceed the normal. Here is how the lu...
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 Ever since we were able to show homes again (after 5/8) the real estate market exploded in Denver.   Homeowners were still nervous about putting their homes on the market with potential buyers (that may have COVID) coming through their homes, which left us with a razor-thin inventory. For months now we have seen 1200-1300 new listings come on in a 7-day span, and over 2000 go pending, leaving our market in a very strong Seller's market.   Finally today I noticed that we don't have as many going pending.  Pretty sure it is because most schools will begin this coming Monday.   Usually, August is a slower month, but was not late July or even earlier this month. This data is for the last 7 days. 
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By Joan Cox, Denver Real Estate - Selling One Home at a Time
(House to Home, Inc. - Denver Real Estate - 720-231-6373)
 The news stated today that Colorado is the dryest state right now.  We have not seen any measurable rain for some time and can really tell.     We currently have ten wildfires raging in Colorado, and the air is so permeated with smoke, the air quality has been poor for a few days now.   There is one outside Grand Junction which has been blamed for all the smoke in Denver.   So far almost 24,000 acres have burned, and only 7% contained.   We really need some rain badly! I was showing acreage yesterday, and all you could smell was smoke, and the mountains were not very visible.   You really have to look hard to see them!   
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